Stocks Slightly Higher into Final Hour on Less Eurozone/Emerging Markets Debt Angst, Central Bank Hopes, Euro Strength, Healthcare/Gaming Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Modestly Higher
  

• Sector Performance: Mixed
  

• Volume: Around Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 12.95 -1.30%

• Euro/Yen Carry Return Index 136.31 +.70%

• Emerging Markets Currency Volatility(VXY) 9.86 -1.0%

• S&P 500 Implied Correlation 67.75 -.07%

• ISE Sentiment Index 115.0 unch.

• Total Put/Call .88 unch.

• NYSE Arms .85 -8.94% 

Credit Investor Angst:

• North American Investment Grade CDS Index 61.33 +.17%

• America Energy Sector High-Yield CDS Index 1,059.0 +.19%

• European Financial Sector CDS Index 70.57 -.10%

• Western Europe Sovereign Debt CDS Index 25.31 -4.85%

• Asia Pacific Sovereign Debt CDS Index 59.72 -.66%

• Emerging Market CDS Index 294.19 -.46%
  

• iBoxx Offshore RMB China Corporates High Yield Index 117.73 +.12%

• 2-Year Swap Spread 23.75 -2.0 basis points

• TED Spread 26.5 unch.

• 3-Month EUR/USD Cross-Currency Basis Swap -20.0 -.25 basis point

Economic Gauges:

• 3-Month T-Bill Yield .01% unch.

• Yield Curve 143.0 +3.0 basis points

• China Import Iron Ore Spot $59.88/Metric Tonne +1.34%

• Citi US Economic Surprise Index -58.50 -2.5 points

• Citi Eurozone Economic Surprise Index 16.20 -1.2 points

• Citi Emerging Markets Economic Surprise Index -15.6 -1.5 points

• 10-Year TIPS Spread 1.90 unch.

Overseas Futures:

• Nikkei Futures: Indicating -89 open in Japan

• DAX Futures: Indicating +9 open in Germany

Portfolio: 

• Slightly Lower: On losses in my biotech/retail sector longs 

• Disclosed Trades: None

• Market Exposure: 50% Net Long